International
People: Arce to lead ECB economics directorate
SNB deputy to retire; Vanuatu names new deputy; Glenn Stevens to chair Macquarie; and more
Project Jura executes ‘real-life’ cross-border CBDC settlement
“Dual-notary” structure could help protect monetary sovereignty, says Benoît Cœuré
FSB says gaps remain in resolution regimes
Ten years since resolution framework was published, bank bailouts are still taking place
Currency Benchmarks 2021 report – executive summary
Perspectives on staffing, circulation, forecasting, note security and composition, outsourcing and more
BIS calls for systemic approach to non-banks
“It is essential to reduce the need for emergency central bank support,” says report
Podcast: Waking up to net zero
BNP’s Jane Ambachtsheer says central banks should not be held solely responsible for achieving net zero, but they have a significant role to play
Tackling surging inflation
Central banks around the world are grappling with rapid price rises, with some taking very different routes to one another
Suptech use expanded during pandemic, says BIS report
Survey of regulators finds authorities’ leadership support is vital for suptech development
Monetary policy’s potency may wane over time – BIS paper
Low rates might cause aggregate demand to become less sensitive to monetary stimulus, authors say
How Turkey’s president created chaos in economic policy-making
Observers allege presidential domination of the central bank, unauthorised FX transactions and untrustworthy statistics
Podcast: central banks’ data models going granular
Vizor Software’s chief technology officer, Ryan Flood, provides an update on changes to central banks’ regulatory data models
Central bank independence helps build reserves – researcher
Latin American central banks given independence built up strong FX reserves, paper finds
House prices rising at fastest rate since global crisis – BIS stats
Advanced economies see sharpest average increase, but India records largest cumulative rise
JP Morgan becomes world’s most systemically important bank
A handful of banks climb the rankings in this year’s updated FSB G-Sib list
Mervyn King attacks central bank theories of inflation
Expectations are “too fragile” to serve as an anchor for inflation, former BoE governor says
Financial crises can radicalise voters – BIS paper
German banking crisis in 1931 contributed to the rise of the Nazi party, researchers find
People: Knot to assume FSB chairmanship
New board members appointed at central banks in Brazil and Peru
CPMI proposes ‘global settlement window’
BIS committee says window could work as focal point for aligning payment systems worldwide
OECD’s total GDP surpasses pre-pandemic level
Organisation says many countries’ GDP still lags behind, and growth is now slowing
Basel Committee launches principles for climate supervision
Basel framework can accommodate climate risks, but supervisors need guidance, committee says
A future-proof RTGS blueprint
Operating hours, access and data standards should all be considered by central banks contemplating an RTGS overhaul
BIS statistics: OTC derivatives market value back to 2019 levels
Gross market values have fallen about a fifth since second half of 2020
‘Bullwhip effects’ worsening supply problems – BIS bulletin
Direct inflationary impact likely to be limited, but “sustained pressures” are possible, economists say
People: Georgieva nominates new IMF deputy managing director
BoE’s PRA names new executive directors; Dallas Fed renews terms for two board members